4 real estate trends to know

SURBAN

The term is surban, the trend a move towards an integrated neighbourhood offering a variety of housing types (flats, townhouses, freestanding homes). These areas effectively blend urban with suburban. “Existing suburban neighbourhoods are adding urban amenities so that there’s an environment where people can live, work and play right outside of the core part of the city,” says US real estate executive Peter Burley.

GEN Z

This year, Generation Z forerunners are turning 18. That means it won’t be long before today’s teens are looking for their own homes. And, according to Sherry Chris, chief executive of Better Homes and Gardens Real Estate, 97% of them want to own real estate. In the US in particular, they are also better placed to purchase property, with lower interest rates and higher salaries as two contributing factors.

IMPROVED HOMES

In the meantime, while Gen Z have a little growing up to do, millennials are looking to buy their first properties. They have a tendency to steer away from the starter home category: those who have paid off student debt and have saved enough for a deposit are looking to expand on the basics. A higher percentage (17%) of those younger than 35 – compared with 14% across all age groups – were able to save enough for a deposit within a year, according to the National Association of Realtors.

DRONES

Video is an essential part of real estate marketing – and drones in particular facilitate a unique perspective of a property, allowing potential buyers an aerial view of their desired house. “It’s a new way of interacting with client s and buyers from all around the world, ”says Tim Nguyen, business development manager for DJI, a producer of unmanned aerial vehicles.